Al-Sisi reviews Egypt's food security, strategic commodity reserves    Egypt signs strategic agreements to attract global investment in gold, mineral exploration    Syria says it will defend its territory after Israeli strikes in Suwayda    Egyptian Exchange ends mixed on July 15    Suez Canal vehicle carrier traffic set to rebound by 20% in H2: SCA chief    Tut Group launches its operations in Egyptian market for exporting Egyptian products    China's urban jobless rate eases in June '25    Egypt's Health Minister reviews drug authority cooperation with WHO    Egypt urges EU support for Gaza ceasefire, reconstruction at Brussels talks    Pakistan names Qatari royal as brand ambassador after 'Killer Mountain' climb    Health Ministry denies claims of meningitis-related deaths among siblings    Egypt, Mexico explore joint action on environment, sustainability    Egypt, Mexico discuss environmental cooperation, combating desertification    Needle-spiking attacks in France prompt government warning, public fear    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt, France FMs review Gaza ceasefire efforts, reconstruction    CIB finances Giza Pyramids Sound and Light Show redevelopment with EGP 963m loan    Greco-Roman tombs with hieroglyphic inscriptions discovered in Aswan    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Egypt condemns deadly terrorist attack in Niger        Sisi launches new support initiative for families of war, terrorism victims    Egypt's GAH, Spain's Konecta discuss digital health partnership    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egypt, World Bank discuss joint projects under Vision 2030
Egypt's hosting of COP27 strengthens its regional leadership in green transition: World Bank
Published in Daily News Egypt on 17 - 10 - 2021

Egypt's Minister of International Cooperation, Rania Al-Mashat, has held a hybrid extensive meeting with World Bank's Managing Director of Operations, Axel van Trotsenburg, and several Word Bank Group's (WBG) leaders, to discuss joint projects under Egypt's Vision 2030.
This came within the framework of the Annual Meeting of the Boards of Governors of WBG and the International Monetary Fund (IMF).
The meeting was also attended by Dean of the Executive Directors Board at WBG, Merza Hassan; WBG's Vice President, Middle East and North Africa, Ferid Belhaj; WBG's Alternate Executive Director, Ragui El-Etreby; Director of Strategy and Operations at WBG's Middle East and North Africa, Stefan G. Koeberle; WBG's Vice President for Operations Policy and Country Services (OPCS), Ed Mountfield; WBG Country Director for Egypt, Yemen, and Djibouti, Marina Wes; the International Finance Corporation's (IFC) Country Manager for Egypt, Yemen and Libya, Walid Labadi; and Chief Economist for the Middle East and North Africa (MENA) region at World Bank, Roberta Gatti.
Al-Mashat discussed with the World Bank's leaders Egypt's efforts to recover from the COVID-19 pandemic; in preparation for the schools' season by vaccinating workers in the education and higher education sector, as well as to start manufacturing and exporting vaccines in a way that enhances the international community's efforts to increase vaccination rates. The Minister also touched on Egypt's efforts to develop the healthcare system through the Universal Health Insurance System (UHIS). The Minister further delved into the World Bank's role in supporting Egypt's strategy within this framework.
The Minister applauded the Upper Egypt Development Programme, which was implemented in cooperation between the Government of Egypt and the WBG; expressing that it counts as a successful model of developing rural communities and has been selected by the United Nations among the best practices that achieve sustainable development.
In that same context, Al-Mashat addressed the Development Policy Financing framework that the Government of Egypt works on in cooperation with WBG, which pushes forward the second phase of the structural reforms to achieve economic growth; based on three pillars: enhancing financial sustainability, pushing for green recovery, enhancing private sector's engagement in development efforts, and enhancing women's engagement in the economy. The Minister further noted that this project needs to be finalized in the upcoming period in order to support national efforts to attain development.
Al-Mashat reiterated the international financial institutions' (IFIs) keenness on seeking innovative financing and blended financing tools to support Egypt's efforts towards green transition and achievement of the UN's SDGs; emphasizing that traditional financing tools are no longer the most important tools for the time being.
Minister Al-Mashat shed light on the importance of deepening cooperation with WBG in the upcoming period; adding that this cooperation aims to strengthen the development portfolio in a way that meets the needs of priority sectors. She noted that financial inclusion is among the most important areas that the partnership with the WBG works on bolstering.
For his part, Axel van Trotsenburg stated that supporting countries in reforming the healthcare system comes at the priority list of the WBG, to enable them to overcome the COVID-19 pandemic's repercussions and to increase vaccination rates. Hence, he reaffirmed the WBG's keenness to support Egypt's efforts in that respect.
Trotsenburg further added that Egypt's hosting of the UN COP27 reflects the country's regional leadership progress towards green transition; noting that Egypt is the first country in the region to participate with the World Bank Group in developing a climate change strategy through joint cooperation in preparing the country's climate and development report.
For his part, Ferid Belhaj praised the efforts of the Government of Egypt in implementing structural reforms, and applauded the ministries' commitment in implementing the Development Policy Financing framework in cooperation with the World Bank Group.
It is worth noting that the ongoing development cooperation portfolio with the World Bank amounts to $5.8bn to finance 18 projects across various sectors, including education, health, transportation, social solidarity, petroleum, housing, sanitation, local development, and environment.


Clic here to read the story from its source.